Launderers in the news: October 2012

22 October 2012

Ponzi scams, visa fraud and dodgy car deals feature in this edition's round-up of money laundering convictions from the past two months in the UK.

Ponzi fraudsters convicted of money laundering - Yorkshire

A couple who perpetrated a £10 million Ponzi fraud that targeted UK investors and ex-pats in Majorca have been jailed for a total of 11 and a half years. The couple spent the proceeds of the fraud on a lavish lifestyle that included luxury holidays and a wedding abroad. The husband pleaded guilty to two counts of money laundering and one count of conspiracy to defraud, while his wife was found guilty of three counts of money laundering.

Bank cashier convicted of money laundering - Croydon

A woman laundered £2.4 million over four years by submitting 93 bogus invoices to the bank in which she worked, and used the money to buy rental properties. She was jailed for five years after admitting money laundering and fraud.

Company director jailed for £600,000 fraud - South Yorkshire

The director of a construction company and his wife have been jailed for a massive VAT fraud. The man reclaimed almost £600,000 in VAT payments after his company was wound up. He paid himself and his wife a weekly salary and moved the money around various bank accounts to conceal its origins. Both pleaded guilty to money laundering and VAT fraud. He was sentenced to two years and his wife to 52 weeks suspended for 2 years. She was also given 250 hours of unpaid work.

Wife jailed for laundering husband's drugs money - Hemel Hempstead

A woman has been convicted of money laundering after helping her husband to launder drugs money by making cash deposits totalling £483,000 into a bank account over a four-year period. Her husband was sentenced to 30 years in prison after being found guilty of conspiring to smuggle £4 million of class A drugs into the UK from Amsterdam.

Visa fraudster jailed for money laundering - Harrow

A man who tried to submit hundreds of fraudulent visa applications has been convicted of money laundering. He charged clients between £3,000 and £5,000 to process visa applications even though he was not a registered solicitor or immigration adviser, and transferred around £300,000 to bank accounts in India. He was sentenced to two years for money laundering, almost five years for conspiracy to defraud the Home Office and 18 months for illegally offering immigration advice. The man was also given a £190,000 confiscation order.

Three people sentenced for £120,000 boiler room scam - West Yorkshire

Three fraudsters targeted elderly and vulnerable people, convincing them to buy shares in reputable companies and banks. The victims deposited money over the phone into a bank account, which was usually abroad. The total obtained by the fraudsters was £120,000. One of the fraudsters was given a 15 month sentence for conspiracy to launder money. The other two were given six-month sentences, suspended for 12 months. One was also given a 30 day community order.

Benefits cheat convicted after hula dancing on holiday - Portsmouth

A man who received nearly £100,000 in disability benefits after fraudulently claiming he needed a wheelchair has been jailed for four years. He used the money to buy a £51,000 property under the right-to-buy scheme, passing the money through the bank account of an accomplice to conceal its origins. He also bought premium bonds in the names of two other accomplices and bought a second property in cash for £70,000. The scam was discovered after council workers realised his paperwork was not in order and a police raid on his house uncovered photographs of him hula-dancing and diving on holiday. He was convicted of three counts of entering into a money laundering arrangement. His two accomplices were convicted of being involved in the acquisition of criminal property.

Rogue car dealer gang convicted for money laundering - West Yorkshire

A gang that defrauded customers of a car dealership in Hipperholme has been convicted of money laundering. The gang sold misdescribed and potentially dangerous vehicles to customers, disguising faults and providing false warranties. The investigation was handled by the Yorkshire and Humber Scambuster team, who received numerous complaints from customers. Five defendants were convicted of money laundering and a sixth was convicted of entering into a money laundering arrangement.

Mum jailed for laundering drugs money - Lancashire

A mum from Morecambe has been jailed for money laundering after helping her drug-dealing partner to launder £58,000 over a period of five years. She was sentenced to 22 months while her partner, the head of an organised crime gang, was sentenced to 16 years for conspiracy to supply cocaine, fraud and laundering over £100,000..

Great-grandparents found guilty of money laundering - Bedfordshire

A 76-year-old man and his wife have been jailed for money laundering and drug dealing following a major police investigation. The couple had bought a £410,000 house in cash and several cars but declared no income other than benefits. Officers found 29kg of cocaine in the couple's car when they were stopped in France in 2009. Each was sentenced to 18 months for money laundering. The husband was also sentenced to 18 months for conspiracy to supply cocaine.

Money launderers caught by Trading Standards - Bromley

Elderly victims were tricked by bogus traders into paying money for unnecessary sewage work. The money was paid into the bank accounts of two men, with one victim paying in £25,000. One man pleaded guilty to 11 charges under the Proceeds of Crime Act and was jailed for two years. The other man pleaded guilty to three charges and was given a suspended sentence, a 12-month supervision order and 150 hours' unpaid community work.